Looking at the economy currently in a recession I couldn’t help but think that this has happened before (insert sarcastic tone) in the United States.
So when I saw a full list of 40 Recessions and World Crises on the stock forum earlier today I decided that it would make a great post to show what cycle of chaos we have actually been in. Here are 17 time periods to note since the Great Depression (Note that the accuracy is based on the original author as I did not make corrections).
Any of these bring back memories?
1. Great Depression (1929 to late 1930s), stock market crash, banking collapse in the United States sparks a global downturn, including a second but not heavy downturn in the U.S., the Recession of 1937. Durations: 43 and 13 months respectiviely.
2. Recession of (1945) Duration: 8 months
3. Recession of (1948 – 1949) Duration: 11 months
4. Post-Korean War Recession (1953 – 1954) – The Recession of 1953 was a demand-driven recession due to poor government policies and high interest rates. Duration: 10 months
5. Recession of (1957 – 1958) Duration: 8 months
6. Recession of (1960 – 1961) Duration: 10 months
7. Bond Inversion of (1965 – 1967) no recession materialized
8. Recession of (1969 – 1970) Duration: 11 months
9. 1973 oil crisis (1973 – 1975) – a quadrupling of oil prices by OPEC coupled with high government spending due to the Vietnam War leads to stagflation in the United States. Duration: 16 months
10. 1979 energy crisis – 1979 until 1980, the Iranian Revolution sharply increases the price of oil
11. Recession of (1981 – 1982) Duration: 16 months
12. Early 1980s recession – 1982 and 1983, caused by tight monetary policy in the U.S. to control inflation and sharp correction to overproduction of the previous decade which had been masked by inflation
13. Great Commodities Depression – 1980 to 2000, general recession in commodity prices
14. Late 1980s recession – 1988 to 1992, collapse of junk bonds and a sharp stock crash in the United States leads to a recession in much of the West
15. Japanese recession – 1991 to present, collapse of a real estate bubble and more fundamental problems halts Japan’s once astronomical growth
16. Asian financial crisis – 1997, a collapse of the Thai currency inflicts damage on many of the economies of Asia
17. Early 2000s recession – 2001 to 2003: the collapse of the Dot Com Bubble, September 11th attacks and accounting scandals contribute to a relatively mild contraction in the North American economy.